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Japanese Chief Cabinet Secretary Suga is reported by Reuters, as saying that “we are seeking a prudent response on the General Security of Military Information Agreement (GSOMIA) from South Korea.

South Korea  announced on  Thursday it will not renew its bilateral military information-sharing pact with Japan, known as GSOMIA.  This comes amid rife trade dispute between the South and Japan on the trade front.

Meanwhile, South Korean President Moon said last hour that Japan has not stated honestly the reasons for retaliation, responding to Japan’s removal of the South’s preferential trade status with effect from Wednesday.

The above headlines are shrugged-off by markets, as the main focal point remains the US-CHina trade and geopolitical concerns.  

  • Trade wars morphing towards ‘unexpected events’ – GT